The office market will undergo moderate to strong recovery in 2021 : Report

In the wake of the COVID-19 outbreak, breakthrough research is taking place across the world, not only pertaining to the medical domain but also concerned with human behavior. 

One such report has surfaced with a series of research papers capturing the impact of the pandemic on various sectors. The report is generated Savills India, an international property consulting firm.

The reports offer a glimpse of what could happen and how the pandemic could lead to new trends across sectors.

The report consists of two research papers. The first paper highlights COVID-19's likely impact on the economy. On the other hand, the second paper focuses on the impact of Coronavirus on work-life and how it may transform our workplaces. Most importantly, it touches upon the likely impact on India’s office market in the short term and points out some of the emerging landscape in the wake of this pandemic.  

The report mainly highlights the following trends:

• Office space leasing likely to slow down in Q2-Q3,2020 due to tenants reprogramming their office needs
• The office market will see moderate to strong recovery in 2021
• Fresh office supply in a temporary pause
• High risk to co-working co-providers with large exposure to leases and rolling monthly contracts
• 69% of the post-pandemic world wants more digital and less physical workplaces.